VAT & CIS Tax
VAT is one the most complex taxes due to the scope and the regular changes to the regulations. We are on hand to advise you if registration is needed and also can explain the benefits of becoming VAT registered. We are also on hand to discuss and assess which VAT scheme could be suitable. All VAT registered businesses now fall within the new Making Tax Digital regime and our team are on hand to offer full support and advice to ensure the regulations are followed.
The Construction Industry Scheme can prove to be a heavy administration burden and that’s where we can remove this monthly burden for our clients. We collate, prepare and submit the necessary returns to H M Revenue and Customs and prepare the monthly remittances on behalf of our clients.
Our Key Services include:
VAT Reconciliations and Submissions
CIS Processing and Submissions
We can save you a lot of worry and money by letting us handle your self-assessment responsibilities. There are many changes within the income tax regulations which are now making self-assessment returns more difficult to understand and submit correctly. More emphasis is now being put on taxpayers individual responsibilities and the risk of incurring penalties for errors made on tax returns is now even greater. As tax advisors, we can provide you with a year round service and ensure your responsibilities are managed. We can act on your behalf so we can deal directly with H M Revenue & Customs should any enquiries arise. We can also act for you at any meetings.
Corporation tax can be tricky for businesses due to its in-depth legislation and increased reporting changes. This tax represents a substantial part of your trading costs and as part of our corporation tax service, we help to determine and take advantage of tax opportunities and reliefs available. As well as our normal service preparing and submitting the company returns, we also provide efficient corporate tax planning which can result in potentially very significant improvements in your bottom line profits.
Inheritance tax can sometimes be a shock and therefore planning is vital. With increasing house prices and nil rate bands not increasing, more people are falling within the tax regime than ever before. We help to plan with our clients to enable them to pass on their wealth in the most tax efficient way using exemptions and reliefs available. We also work closely with our regulated financial advisors to discuss any opportunities which may qualify for inheritance tax exemptions which helps to reduce any potential tax liabilities.
Capital Gains Tax
Capital Gains Tax (CGT) is a very wide ranging tax. It applies to the disposals of businesses, property, shares and personal possessions. CGT does not just apply to selling assets, it also applies when gifts or transfers of assets take place. Many reliefs and exemptions exist and therefore it is vital to discuss the event with us to minimise any tax liabilities. We start from the beginning and discuss possible timings of any disposals through to assisting in the reporting of the disposals to H M Revenue and Customs.